The Challenge
Let’s face it, managing personal finances is hard. 1 in 5 people have no retirement savings, the average college student graduates with $37,000 in student loans, and the national credit card debt is over $1 trillion. Over 45% of Americans report having zero savings. Yet, building a cushion as little as $250 makes people less likely to be evicted, miss a housing or utility payment, or need public assistance after a job loss or health issue. Most Digit members save that within a year on Digit. We’re building a smart financial assistant to help make financial health effortless for everyone.
We have a collaborative, diverse, and supportive culture and we look for people who are curious, ambitious, and mission-driven. If you're passionate about making an impact and helping real people every day we're excited to meet you!
The Role
We are looking for an experienced fraud prevention professional to help build out our fraud prevention capacity as we build new products and expand our business. As a Fraud Operations Manager at Digit, you will work cross-functionally to manage fraud risk across Digit with a strong focus on the member experience. You will work with external vendors to analyze suspicious behavior and make decisions with a high rate of precision, and champion new ways to get the job done and identify future needs to build out our fraud prevention function.
What You’ll Do:

• Manage fraud detection vendor: Partner with our external fraud detection vendor to optimize fraud detection in line with business goals. Identify gaps in detection and recommend ways to improve coverage.
• Set and revise fraud rules: Work with our bank partner, compliance, data and product teams to set and revise fraud rules that balance fraud loss, cost of execution, and customer experience.
• Monitor fraud events: Run point on monitoring our fraud detection model performance and fraud activity. Work with our data science team to analyze all high risk transactions and constantly assess new risk vectors. Look out for false positive and negative events and revise existing fraud rules in order to reduce false positive rates and increase fraud detection rates.
• Lead issue identification: Lead root cause analysis (RCA) to identify why a fraud event happened and recommend processes and opportunities to predict, prevent and mitigate risk.
• Support customer communications: Work with our support team to draft customer responses based on RCA and issue identification.
• Identify future needs for the fraud function: Lead work to identify future needs as we scale. Build a team as necessary to support fraud prevention at Digit and identify external vendors that could improve our fraud prevention capacity.

Who You Are:

• Minimum 4 years of experience in fraud risk management in financial services
• Extensive knowledge in both card present and card-not-present fraud schemes, risk prevention methods, and detection tools for digital and physical transactions
• Experience mitigating online fraud, such as account takeover, phishing, online card testing, etc.
• Experience developing and refining fraud rules and running RCAs independently
• Excellent analytical, problem solving, and process improvement skills
• Strong project management skills to manage multiple internal and external stakeholder and quarterback the entire fraud prevention, detection and response process
• Proven ability to forge strong working relationships within and across multiple discipline
• Basic SQL knowledge and a willingness/desire to enhance this skillset
• Strong communication skills to write recommendations, RCAs, and articulate complex concepts in a clear manner

Who We Are:
We want to eliminate the stress and anxiety people feel about their finances so they can focus on what’s most important in their lives. We first mastered saving for people's near-term goals, helping our members automatically save over $5 billion. Today, we are harnessing our groundbreaking machine learning and personalization technology to give our members an automated smart financial assistant to manage all of their personal finances.
We’re committed to doing the best work of our lives, together. Come see if we're the right team for you.
What We Offer You:

• Competitive salary and stock options
• 100% paid medical, dental, & vision benefits
• 100% paid life & disability insurance
• Fertility Reimbursement
• Catered lunches with unlimited snacks and drinks
• Commuter and wellness benefits
• Unlimited vacation policy
• 401k plan
• Collaborative workspace

Digit is a proud equal opportunity employer and we believe that a diverse and inclusive workforce is an imperative. We welcome people of different backgrounds, genders, races, ethnicities, abilities, sexual orientations, and perspectives, just to name a few. We do not discriminate based upon any protected class and we encourage candidates of all identities and backgrounds to apply. Digit considers qualified applicants regardless of criminal histories in accordance with the San Francisco Fair Chance Ordinance.
Digit is committed to providing reasonable accommodations for candidates with disabilities in our recruiting process. If you need any assistance or accommodations due to a disability, please let us know at [email protected].